http://www.fxstreet.com/fundamental/market-view/commodity-observatory/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-11-18.htmlBoth OPEC and the International Energy Agency (IEA) revised upwards their oil demand forecasts due to improved perspectives regarding economic growth. These revisions counterbalanced the impact of higher than expected US inventories on the oil price, which has been in the 75-80 dollars range in the last four weeks. Energy The price of oil is currently around USD 77 per barrel. It has been now four weeks since oil prices remain within the 75-80 dollars range. US oil stockpiles rose 1.76mb whileWed, 18 Nov 2009 09:59:59 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-11-18.htmlhttp://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-11-03.htmlCommodity prices rebounded on Thursday following news that the US GDP grew 3.5% in the third quarter after four quarters of negative growth. For most commodities, however, the rebound was not large enough to offset the losses observed in the beginning of the week when the appreciation of the dollar helped to drive prices down. Energy The price of oil rose around 3% on Tuesday when data on US GDP growth were released, however it remained below the levels observed the week before when the dollarTue, 03 Nov 2009 08:48:28 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-11-03.htmlhttp://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-10-27.htmlThe price of oil broke the USD 80 per barrel mark in the middle of last week and then receded slightly on Friday. The upward move was driven by the consolidation of recovery perspectives and by the weakness of the dollar. Copper prices also rose to reach values close to USD 6650 per ton, in spite of rising inventories. IN DEPTH: see on page 2, “COMMODITY PRICES: FUNDAMENTALS WILL REASSERT THEMSELVES” about BBVA’s new commodity price forecasts. Energy Oil prices continued to move upwardsTue, 27 Oct 2009 09:25:52 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-10-27.htmlhttp://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-09-15.htmlOPEC members decided to keep their output unchanged as the oil price has been hovering close enough to the range considered optimal by the cartel (USD 70 to USD 80 per barrel). Price’s reaction to this move was pale as the decision had been anticipated by the markets. The oil price increased slightly due to a weaker dollar and higher oil demand estimates. Energy The oil price increased slightly last week due to a weaker dollar and news regarding the fundamentals of the market. TheTue, 15 Sep 2009 12:58:22 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-09-15.htmlhttp://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-08-26.htmlThe oil price was driven up last week by the largest drop in US inventories since May of 2008 and by the depreciation of the dollar. The oil price is now slightly below the highest value reached in the year (USD 75.5 per barrel recorded in the beginning of the month). The weakness of the North-American currency also provided support to other commodity prices. Energy The price of oil increased more than 5% last week due to an 8.4mb drop in US inventories (the highest drop since May of 2008).Wed, 26 Aug 2009 10:39:08 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/commodity-observatory/2009-08-26.htmlhttp://www.fxstreet.com/fundamental/market-view/commodity-observatory/2008-06-18.htmlWe have revised our oil forecasts upwards to US$ 104 and US$ 81 by the end of 2008 and 2009 respectively. This revision is consistent with our expectation of a slowler appreciation of the USD and a weaker supply response. The very high plateau that prices have reached in the last few weeks should also extend the time need to reach equilibrium prices. Corn soared due to bad weather in US. Agriculture Bad weather conditions in US (for corn and soybean) and in Australia (for wheat) are drivingWed, 18 Jun 2008 08:54:37 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/commodity-observatory/2008-06-18.html